Low-interest loans

This program supports:

• individual artists who have lived in Tasmania for six of the last 12 months
• groups of artists who have all lived in Tasmania for six of the last 12 months
• an arts organisation based in Tasmania
• a cultural heritage organisation based in Tasmania.

All applicants must currently live in Tasmania and be over the age of 18 at the time of application.

You must also meet our general eligibility requirements.

If you receive a loan from Arts Tasmania, you must notify us if you move interstate or overseas. Loan funds must be repaid if you are no longer a resident of Tasmania.

What can I apply for?

Costs related to:

• capital improvements or infrastructure
• the purchase of equipment related to your arts practice.

Museums, galleries, and collections will need to show that the purchase benefits one or more of the following areas:

• improving access to collections
• collections management and care
• museums management
• product development.

Please note that this program does not support projects, manufacturing, or the purchase of materials - please see Arts Tasmania’s grant opportunities.

How much can I apply for?

You can apply for a loan between $1,000 and $15,000.

Please note there may be a limit on the loan funds available. We encourage you to contact us about your loan options.

The current interest rate is 4.41% per annum for the 2024-25 financial year. Interest rates are variable and reviewed on an annual basis.

Will I be required to provide security on my loan?

If you are asking for more than $10,000, you will need to provide security for your loan in the form of a guarantee.

The arts or collections component of your application will be assessed by a multi-artform panel using the criteria of:

For more information on assessment, please see how decisions are made.

We also need to assess your ability to repay the loan through a credit check by the Department of State Growth.

If your application goes to this second stage of assessment, we will request copies of your last two tax returns or a statement showing the last two years of Centrelink payments.

If you have applied on behalf of an organisation and your application is supported, we will request copies of your organisation’s audited financial statements and tax returns (if your organisation is required to submit tax returns) for the last two years, and a budget for the next 12 months.

Loan repayments are made in monthly instalments. The minimum annual repayment amount is $1,000 principal (before interest).

The term of your loan is determined by the type of purchase and related activities.

The maximum loan term is five years. If needed, your loan term can be changed, based on your circumstances and ability to meet the monthly repayments.

You may pay out the remainder of your loan at any time.